Contents Insurance

I guess it depends - there are calculation sheets you can get to do an estimation of what your contents are worth. We have $40,000 - have a 2 bdrm + conservatory house. It is slightly low - should be around $60K I think, which we will increase it to once our income goes up slightly.

As for an average house having contents of $139K - I work in insurance and we have very few policies come through with contents over $80-90K. The ones that are have a LOT of specified items - ie. antique furniture, expensive jewellery (I did one a few months ago where there was $40K of jewellery alone ) or have HUGE houses - 250m2 plus that have been extensively renovated (brand new carpet/curtains etc).

Just my 2c worth

Our contents insurance is waaay too low but we aren't going to put it up until we are in a better position financially. Ours is currently $40k but it really needs to be up to more like $70k I think

Oh cool thanks! Ours is at $40,000 at the moment aswell which I thought was super low. We took out that policy when DH and I first moved in with each other - 2 bed flat with all 2nd hand furniture etc. We only have a couple of items listed seperately. Might see how much of an increase in premium it is to go up to maybe $70k or so

$33K for DH and I. We really don't have a lot of high value items in the house, apart from our TV and laptops. The insurance company weren't too keen to have a low value contents insurance, but I said I walked around the house and worked out the value of everything, which came to $30K.

We originally started off with $13K, but over the period of living together for 3 years, we recently just put it up to $33K. I revalue everything on a yearly basis, when the policy is due to be renewed.

We have just put our contents up from 40K - 86K and its only an extra $2 a fortnight.

72K. when we did our estimate, i found out weird things - like jake has a plastic animal collection valued at over$300.

lady_aset - do you own your home? I know it sounds like a weird question, but there is a reason behind my madness

.Mel

WOW..you are super super super organised :)

The average policy in NZ is around $50k but insurance companies think it should be around $70k - most people are underinsured.

I put mine up from $40k to $60k and it only cost about $2 if that per fortnight.

When insuring contents you have to work out if you lost EVERYTHING in a fire for example - how much that would be. Will be more than you think.

.Mel wrote: I've actually taken photos of everything and have them saved onto a stick which is at mum and dads, each time we get a new ticket item I take a photo and send it to mum and she saves it on to the stick. (the photos are of the item and then of the serial code).

I've done the same as well (except I have all the serial numbers and stuff saved on my university drive and the one at work, plus a copy in my yahoo email account.

It pays to do so, as when you report something stolen with those details, makes it very hard for them to sell it at a place like Cash Converters!